Wind Point Partners has held a hard cap close of its latest fund, Wind Point Partners X LP, with capital commitments of $2.3 billion, exceeding its $1.7 billion target.
Fund X is the firm’s largest fund to date and is more than 50% higher than its earlier fund, Wind Point Partners IX LP (2019 vintage), which held a final close in February 2021 with $1.5 billion in commitments.
Chicago-based Wind Point was founded in 1984 and with the closing of Fund X now has approximately $7 billion in assets under management. The firm is led by its managing directors Nathan Brown, Paul Peterson, Alex Washington, Konrad Salaber and Joe Lawler.
Limited partners in Fund X include public pensions, insurance companies, endowments, foundations, fund of funds and family offices.
“I want to thank our partners in Fund X for their outstanding support,” said Mr. Brown. “Fund X represents our largest and most diverse investor base to date, which was enabled by the strong foundation of our repeat partners – some of whom have been investors with us for nearly three decades.”
Wind Point invests from $50 million to $250 million in companies with EBITDA of at least $10 million. Sectors of interest include industrial products, consumer products, and business services sectors. The firm utilizes a team of executive advisor partners, comprised of more than 40 private and public company executives who are aligned with Wind Point and contribute across all aspects of the firm’s investment process.
“On behalf of the Wind Point team, we would like to convey our gratitude for the trust and partnership by so many quality institutions represented with Fund X,” said the partners of Wind Point in a released statement. “The success of this fundraise is a testament to the clarity and quality of our strategy, the strength and tenure of our team, and importantly, our consistent results. We believe Wind Point is extremely well-positioned for the long-term and we look forward to continued shared success with our valued partners.”
Since 1997, Wind Point’s buyout funds have completed 75 platform investments and more than 300 add-on acquisitions.
“With Fund X we were able to add significant new capital from sophisticated institutions representing more than ten countries around the world,” said Ron Liberman, the head of investor relations at Wind Point. “This is an exciting time for our firm and the team is extremely energized to be in such a strong position to continue delivering for our investors.”
Evercore was Wind Point’s placement agent on this fundraise and Kirkland & Ellis provided legal services.
© 2024 Private Equity Professional | March 19, 2024
